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InsiderOnline Blog: August 2004

Tax Foundation Proves Tax-Cut-Haters Wrong Again

Another Tax Foundation study undercuts the assertion of most of the media this week that the Bush tax cuts only benefited the rich. The new study shows that the Bush tax cuts actually wiped out income tax liability for 7.8 million Americans, bringing to 44 million the number of Americans not paying any income tax. So, who are these people? They’re predominantly low- to middle-income families, young dual-income couples with children, and they’re concentrated in construction and manufacturing jobs, said Tax Foundation President Scott Hodge Wednesday. 

Hodge also pointed out that since the CBO report came out, media and Dems have changed the discussion from one of income tax burden to total federal tax burden. If tax-cut opponents are so concerned about the total federal tax burden, maybe we should look into reforming Social Security? Somehow, I don't think that's the object of all their squawking.

Posted on 08/19/04 11:11 AM by Mary Katherine Ham

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